New WB report highlights rise in national poverty rate, calls for people-centred reforms

A new report published by the World Bank (WB) on Tuesday called attention to the rising national poverty rate in Pakistan, highlighting the need for sustained and people-centred reforms to protect vulnerable populations. The report, titled “Reclaiming Momentum Towards Prosperity: Pakistan’s Poverty, Equity and Resilience Assessment”, marks the first comprehensive evaluation of poverty and welfare trends in the country since the early 2000s, according to a WB press release today. According to the release, the national poverty rate has begun to rise again since 2020, after a steady decline from 64.3 per cent in 2001-02 to 21.9pc in 2018-19. “This is largely owing to compounding shocks — including COVID-19, inflation, floods, and macroeconomic stress — but also because the consumption-driven growth model that delivered early gains has reached its limits,” it said.